Although no economic data will be released today, the market has opened in negative territory after Friday's rough closing.

Pricing has opened 0.250 WORSE to the points/credits associated with each interest rate option.

This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals with factual data regarding where rates are at any given time and what trends are propelling current mortgage pricing on any given day. Feel free to browse the library and research historical rate updates dating back over 2 years at www.JasonGordon.info whenever desired. To make things easier, I have also posted a quick report on How To Read The Charts Below.

Also, make sure to learn THE TOP 10 THINGS TO KNOW ABOUT MORTGAGE RATES (to help understand the relationship between rates & fees/credits) along with THE TRUTH BEHIND MORTGAGE QUOTES (to better understand the relationship between up-front closing costs and mortgage interest rates so you don't get duped by clever advertising campaigns). Remember, we all make better decisions in life when we have the actual facts to analyze...share this report with those whom you care about!

The following information is current as of Monday 6-9-2014 and will help you understand today's best mortgage rates. If you are a Buyer/Borrower who is still on the fence (or if you are a Real Estate Agent attempting to educate your "on the fence" Buyer), please review these trends and secure an historically low interest rate before it is too late.

The market closed Friday with a SIGNIFICANTWORSENING to pricing. Friday's SIGNIFICANT WORSENINGnetted a change of 27 basis points (bps).

(Note: Upward activity on these charts is GOOD, downward activity is BAD)

The following chart summarizes todays market activity:

The following chart shows market activity over the past 10 days (hint: green is good, red is bad):

The following chart shows market activity over the past 1 month:

Daily Interest Rate Snapshot (sample of rates from one of the country's largest Lenders...individual pricing will vary based on specific Borrower qualifications): NOTE: This Lender has quoted a 1.00% Origination Fee (1 Point) to accompany this pricing. It bears noting that this chart does not necessarily represent todays best mortgage rates.

Market Commentary (Neil Trenerry)

FNMA

Cpn 3.0 Chg -0.1875 Bid 97.85938

Cpn 3.5 Chg -0.1563 Bid 102.21875

Cpn 4.0 Chg -0.1250 Bid 105.48438

Treasury

UST 5 YR Chg -0.1719 Bid 99.11719 Yield 1.6860

UST 10 YR Chg -0.1875 Bid 98.96875 Yield 2.6190

UST 30 YR Chg -0.2500 Bid 98.53125 Yield 3.4540

Currency

Euro Bid 1.3596 Chg -0.0046

Pound Bid 1.6796 Chg -0.0003

Yen Bid 102.49 Chg 0.020

Light Crude

Last 103.52

Key Economic Data:

7:00: Employment Trends for May: Last 118.0.

Advice:

Treasuries fell, pushing yields to the highest level in four years versus their Group of Seven peers, before data this week that economists said will show improvement in the U.S. labor market and consumer confidence. The extra yield that 10-year Treasuries offer over their G-7 counterparts was 72 basis points, the most since April 2010, after European Central Bank policy makers last week unveiled an unprecedented stimulus package. A report yesterday showed Chinas exports rose more in May than economists forecast and the trade surplus widened to a five-year high. The U.S. is scheduled to sell $62 billion in notes and bonds over three days starting tomorrow. With China and the euro zone coming under pressure, that really did affect the Treasuries market, said Orlando Green, a fixed-income strategist at Credit Agricole SAs corporate and investment banking unit in London. The market can now focus a bit more on the U.S. internal dynamics and how its recovery is coming along. Yields are certainly too low in Treasuries and any upwards move that we see is a realignment towards fundamentals. The U.S. 10-year yield climbed three basis points, or 0.03 percentage point, to 2.62 percent at 6:49 a.m. New York time, according to Bloomberg Bond Trader prices. The 2.5 percent note due in May 2024 fell 1/4, or $2.50 per $1,000 face amount, to 98 31/32.

My position on MBS:

Short term stays Neutral.

Long term stays Short.

Long = I anticipate pricing to improve which leads to lower Rates.

Neutral = Market should stay close to open plus or minimums 25bps.

Short = I anticipate pricing to weaken which leads to higher Rates.

Short term = 1 - 2 days out

Long term = 30+ days out

Trusted Industry Advisor

The above information was compiled and distributed by San Diego Residential Mortgage Specialist, Jason E Gordon in an effort to provide transparency regarding true mortgage rate activity and market guidance to consumers and professionals interested in this activity. All Market Commentary is provided via The Mortgage Coach and/or their RateWatch technology software.

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